Business
Net Medical XpressQ3 Profitability, Positive Cash Flow and Strengthened Balance Sheet on Growing Telemedicine Services
Net Medical XpressQ3 Profitability, Positive Cash Flow and Strengthened Balance Sheet on Growing Telemedicine Services.
About this update from Net Medical Xpress Solutions, Inc.
[{"type":"text","content":"\n \n \n Net Medical XpressQ3 Profitability, Positive Cash Flow and Strengthened Balance Sheet on Growing Telemedicine Services\n \n \nNet Medical XpressQ3 Profitability, Positive Cash Flow and Strengthened Balance Sheet on Growing Telemedicine Services\n \n ALBUQUERQUE, NM--(Marketwired - Nov 13, 2015) - Net Medical Xpress Solutions, Inc. (OTCQB: NMXS) announced today revenue for the third quarter of 2015 of $1,010,000 vs. revenue of $1,091,000 in the third quarter of 2014. The company reported net income of $105,000 or $0.00 per share versus a net loss of ($109,000) or $0.00 per share in the third quarter of last year.\n For the first nine months of 2015, Net Medical reported revenue of $3,379,000 vs. revenue of $3,536,000 in the first nine months of 2014. The company reported net income of $212,000 or $0.00 per share versus a net loss of ($173,000) or $0.00 per share in the first nine months of last year.\n CEO Dick Govatski said, \"Our ongoing transformation to profitability and financial health continued in the third quarter of 2015 with reported net income through the first nine months of $205,000. The quarter benefited from gains in our Specialist segment reflecting gains in neurological and primary care services as well as the CMS (Center for Medicare and Medicaid Services) grant with the University of New Mexico. We also had important gains in program hardware sales in our Specialists programs. \n \"Our revenue was lower than last year due to decreased revenue in our radiological services because of the loss of three customers in 2014 and 2015. The market has become increasingly competitive with corresponding impacts on pricing and margins. As a result, we are concentrating our efforts to grow our specialist division to offset the slowdown in our radiology and cardiological services where we face increasing competition resulting in pricing pressure. \n \"Our debt-free balance sheet reflects ongoing gains in assets and decreases in liabilities. For the first nine months we generated over $330,000 in cash from operating activities.\n \"We are excited about the future of telemedicine and our role in the industry. There are numerous opportunities to expand our telemedicine efforts and we are working on those initiatives now,\" Govatski said.\n About Net Medical Xpress Solutions, Inc.\n Net Medical Xpress is a multi-faceted ...